The stock of High Roller Technologies Inc. (ROLR) surged over 130% after the announcement that it would launch an event-based prediction market in the U.S., partnering with Crypto.com. The Las Vegas-based company revealed on Tuesday its plan to provide customers with Crypto.com Derivatives North America (CDNA) event contracts across finance, sports, and entertainment sectors. CDNA operates as a CFTC-registered exchange and clearinghouse affiliated with Crypto.com, although the exact launch date was not disclosed.
Shares of High Roller climbed 65% recently to $8.32, while Crypto.com’s CRO token saw a 3% increase, reaching 7 cents post-announcement. The prediction market sector, once considered niche betting platforms, is evolving into a sophisticated trading domain aggregating probabilities for real-world events. Major players in this field include Kalshi, a U.S.-based CFTC-regulated exchange for event contracts, and Polymarket, one of the largest decentralized markets covering politics, sports, and economics.
According to High Roller, this market is anticipated to expand into an arena with trading volumes surpassing $1 trillion by 2030. As per a recent report from U.S. bank Citizens, prediction markets currently generate annual revenues exceeding $3 billion, up from about $2 billion in December, with projections suggesting they could reach $10 billion by 2030.